In the month of July, Michigan saw a decrease in the seasonally adjusted jobless rate by one-tenth of a percentage, dropping to 4.2 percent. Although Michigan has seen a precipitous drop in the unemployment rate year over year – from 6.2 percent to 4.2 percent – Michigan’s jobless rate remains behind the national average, which for July was 3.5 percent.
The Michigan Department of Technology, Management & Budget (DTMB) reported that statewide, employment increase by 8,000 jobs and unemployment was reduced by 5,000, leading to an overall workforce gain of 3,000 jobs.
Michigan’s nonfarm jobs saw the greatest increase at 3.1 percent. This was followed by leisure and hospitality at 2.6, and retail trade at 0.5 percent.